Thailand's domestic price for natural rubber keeps rising due to increasing demands

November 4, 2020

Thailand's price for natural rubber at domestic markets kept rising as a result of more demands than supplies, said a top executive official on Tuesday.

The domestic prices for natural rubber have recently increased to 81 baht (about 2.60 U.S. dollars) per kg and might even rise up to 100 baht (about 3.21 U.S. dollars) a kg in the foreseeable future since the demands have surpassed the supplies, according to Rubber Authority of Thailand (RAOT) Governor Nakorn Tangavirapat.

Nakorn earlier said the rubber prices at the domestic markets will not drop lower than 70 baht (about 2.24 U.S. dollars) per kg until the end of this year, given the increasing demands on both domestic and export markets.

Last month, Thailand produced a total of about 441,000 tons of natural rubber, compared to about 491,000 tons being demanded in the country, according to the RAOT governor.

He said global demands for rubber gloves have considerably risen as part of anti-pandemic measures.